Pal+ (formerly Cubie), a Taiwan-based chat messaging application, has raised US$1.3 million in its Series A round of funding from Asiasoft, a publicly-listed Southeast Asian game publisher in Thailand.
The round also saw participation from Taiwanese venture capital firm Expert Idea, besides its existing investor FunP.
Pal+ is run by Pomelo Network, a Singapore incorporated company, with its R&D team located in Taiwan.
Pal+ is a forum-based app that offers wide varieties of discussions for like-minded individuals to participate in. Users can share or discuss topics that they love such as life, entertainment, games, and animation, and favourite or share them with friends instantly, shared an official release.
Founded in 2012, the startup was the second Taiwanese team to receive funding from 500 Startups. It is led by Thelma Lin, who joined the company in 2014 after years of heading a publicly-traded gaming company in Taiwan.
“We have nearly 12 million downloads worldwide, with half the monthly active users coming from Southeast Asia, so it was natural to follow the users. The investment from Asiasoft validates the significance of Pal+’s user base in Thailand and elsewhere in the region,” said Lin.
Listed on the Stock Exchange of Thailand (SET), Asiasoft publishes online games, operates Internet cafes and has its own online payment system. The company has published games in Thailand, Vietnam, Singapore, Malaysia, Philippines and Indonesia.
“Asiasoft has more than 10 years of experience in the game publishing and digital entertainment business, and we have over 130 million registered users on our platform in Southeast Asia. Our goal is to leverage our content and distribution and work with Pal+ to be a neutral and open platform for all game publishers to be able to distribute their content via mobile to all of Southeast Asia,” said Asiasoft Chairman Sherman Tan.